Appendix B – Terms Code Examples

 

Example 1

Example 2

Invoice is due 30 days from invoice date – no discount is offered,

Invoice is due when it is received – no discount is offered.

Code: 30

Code: 00

Description: Net 30 Days

Description: Due on Receipt

Type: D

Type: D

Discount: 0.0%

Discount: 0.0%

Net Day (s): 30

Net Day (s): 00

Discount Days:0

Discount Days: 0

 

 

Example 3

Example 4

Invoice is due at the end of the month after it was created.

Invoice is due 30 days after created – 2% early payment discount can be taken if the payment is received within 10 days.

Code: 31

Code: 10

Description: Net EOM

Description: 2% 10 Net 30

Type: P

Type: D

Discount: 0.0%

Discount: 2.0%

Net Days (s): 31

Net Days (s): Ẅ30

Discount Days: 0

Discount Days: 10

 

 

Example 5

Example 6

Cash on delivery – as may apply to a will call sale or a C.O.D. delivery.

Invoice is due on the 10th day of the month after it was created – 2% discount can be taken if payment is received by the 10th of the following month.

Code: CD

Code: 11

Description: C.O.D.

Description: 2% 10th net 10 Prox

Type: D

Type: P

Discount: 0.0%

Discount:2.0%

Net Day (s): 0

Net Day (s): 31

Discount Days: 0

Discount Days: 10

 

 



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